'Skyfall,' 'Hobbit' Boost MGM

Metro-Goldwyn-Mayer Inc. enjoyed a more than six-fold increase in revenue during the 2012 fourth quarter thanks to a brooding British spy and a miniature man with hairy feet.

MGM Holdings Inc., parent company of the 89-year-old studio, reported net income of $40.2 million on $902.6 million in revenue during the three months ended Dec. 31. A year earlier, it had a loss of $11.3 million on $136.7 million in revenue.